Cyprus: Bail-Out Package More Expensive Than Thought

People ♦ Published: April 11, 2013; 20:01 ♦ (Vindobona)

The aid-money needed increases from € 17.5bn to € 23bn, according to Cyprian government.

Cyprus: Bail-Out Package More Expensive Than Thought / Picture: © Vindobona.org

After the turbulences about the bail-out package for Cyprus, the rescuing of the country now requires more money than assumed. Instead of a total of € 17.5bn now € 23bn are necessary to prevent the country from going bankrupt, as announced by the Cyprian government on Thursday. After long negotiations in March, Cyprus was granted € 10bn by the Eurozone countries and the…

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